With most of the summer out of the way and holidays becoming but a distant memory, many homeowners are looking for advice from our team, discussing their plans and wondering about the short and medium-term outlook of the local property market.

While we would love to have the legendary crystal ball and figure out for which way the market is going for the sake of all our clients, we can only rely on current facts and solid statistics to make an educated opinion.

The Scottish market has seen prices increase due to a significant lack of stock combined with a high number of buyers who find the current mortgage rates affordable and want to take the first, second or thirst step on the property ladder.

Estate agency is definitely unique in the way everything from big news headlines to the daily weather, or the simple popularity of a small neighbourhood pocket can make an impact on the outlook of a transaction – so we can understand how so many sellers are wondering whether to take the plunge or wait a bit longer.

So what is the future of the West Dunbartonshire property market in this climate of constant change and uncertainty that is becoming the new norm?

High demand from local buyers and limited available stock

The appetite for home buying is out there, the demand we see is strong with many active buyers looking for the right home. Because of this significant lack of stock, many homeowners are waiting to put their home on the market until they have found the next property, which further contributes to the lack of available homes.

While news from down South can be rather grim, with London property prices going through a slump, the Scottish market continues to show signs of strength with the Royal Institute of Chartered Surveyors reporting increases in the number of new buyers enquiries, sale prices as well as optimism with regards to the next three months. (full July 2019 RICS report can be downloaded here)

As long as this demand will continue to be fuelled by affordable financing options, we see the trend carrying on.

Long term positive outlook for the Scottish property market

At the same time, recent reports from PwC highlight that average house prices in Scotland are expected to grow by 14% between 2018 and 2022 to reach £170,000, according to their latest Economic Outlook. (source)

Of course, the ongoing uncertainty of Brexit is enough to dampen anyone’s spirits but undoubtedly, in the short term, the outlook is great for homeowners looking to sell. If you are thinking of a move, we recommend you take action sooner rather than later – autumn is a fantastic season for selling and buying property and conditions are right to most likely make a quick and successful sale.

If you are considering making a move in Clydebank, Dumbarton, Bowling, Old Kilpatrick, Balloch and all surrounding areas, make sure you speak to our team, we sell more homes locally than any other agent, according to Rightmove stats in July 2019.

As one of West of Scotland’s longest established estate agents, Caledonia Property have helped families in West of Scotland buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.